Updated Reviewed quarterly
EMF vs VXUS: ETF Comparison
EMF · Smartshares
TER 0.59% · Yield 1.6%
VXUS · Vanguard
TER 0.05% · Yield —
EMF is a NZX-listed PIE fund (capped at 28% PIR, FIF-exempt). VXUS is US-listed and triggers FIF tax once your overseas-share holdings exceed NZ$50,000 cost-basis, plus 15% US withholding tax on dividends. The trade-off is headline TER (VXUS often cheaper) vs NZ tax simplicity (EMF cleaner).
In 30 seconds: EMF (Smart Emerging Markets ETF, Smartshares) trades on the NZX at 0.59% TER. VXUS (Vanguard Total International Stock ETF, Vanguard) trades on the NASDAQ at 0.05% TER. EMF is a NZX-listed PIE fund (capped at 28% PIR, FIF-exempt). VXUS is US-listed and triggers FIF tax once your overseas-share holdings exceed NZ$50,000 cost-basis, plus 15% US withholding tax on dividends. The trade-off is headline TER (VXUS often cheaper) vs NZ tax simplicity (EMF cleaner).
- EMF: Smart Emerging Markets ETF — 0.59% TER, PIE (max 28% PIR)
- VXUS: Vanguard Total International Stock ETF — 0.05% TER, FIF above NZ$50K
- EMF yield: 1.6% (Semi-annual)
- VXUS yield: not currently published
- Cheaper TER: VXUS
Head-to-head comparison
| Feature | EMF | VXUS |
|---|---|---|
| Fund | Smart Emerging Markets ETF | Vanguard Total International Stock ETF |
| Issuer | Smartshares | Vanguard |
| Exchange | NZX | NASDAQ |
| Total expense ratio | 0.59% | 0.05% |
| Dividend yield (TTM) | 1.6% | — |
| Distribution frequency | Semi-annual | Quarterly |
| NZ tax wrapper | PIE (max 28% PIR) | FIF above NZ$50K |
Where to buy
EMF trades on the NZX — buy via any NZX broker (Sharesies, InvestNow, Invest Direct, ASB Securities). VXUS trades on the NASDAQ — buy via Hatch, Stake, Sharesies, Tiger and Interactive Brokers. See all 11 NZ investment platforms compared.
Frequently asked questions
What is the difference between EMF and VXUS?▾
EMF (Smart Emerging Markets ETF) charges 0.59% TER vs VXUS (Vanguard Total International Stock ETF) at 0.05%. EMF is from Smartshares; VXUS is from Vanguard. EMF is a NZX-listed PIE fund (capped at 28% PIR, FIF-exempt). VXUS is US-listed and triggers FIF tax once your overseas-share holdings exceed NZ$50,000 cost-basis, plus 15% US withholding tax on dividends. The trade-off is headline TER (VXUS often cheaper) vs NZ tax simplicity (EMF cleaner).
Which has the lower fee, EMF or VXUS?▾
VXUS is cheaper at 0.05% TER vs EMF at 0.59% — a gap of 0.54 percentage points.
Which yields more, EMF or VXUS?▾
Yield data for at least one fund is not currently published — check the issuer fact sheet for the latest trailing 12-month yield. Headline yield is gross; after-tax outcome depends on your tax wrapper (PIE (max 28% PIR) for EMF, FIF above NZ$50K for VXUS).
Can NZ residents buy both EMF and VXUS?▾
Yes. EMF is available via any NZX broker (Sharesies, InvestNow, Invest Direct, ASB Securities). VXUS is available via Hatch, Stake, Sharesies, Tiger and Interactive Brokers.
How does NZ tax differ between EMF and VXUS?▾
EMF is PIE (max 28% PIR). VXUS is FIF above NZ$50K. The PIE-wrapped fund is simpler — no FIF return, no US withholding, capped at 28% PIR. See /tax/pie-vs-fif/ for the full mechanics.
Explore with AI
Ask an AI assistant about this page
Open a fresh session with your prompt pre-filled and this page's link attached — the assistant reads the page and answers with it as a source.
Prefer Google?Add etfs.co.nz as a preferred source →
